Private Sector Payroll Changes

On Friday, we noted that the difference between terrible numbers and Friday’s merely awful numbers were the government census hiring.

The Nonfarm payroll employment decline in April was -539,000. Private-sector employment fell by 611,000; the differential between NFP and private sector employment was primarily new hires for the 2010 Census;

Since we all can’t work for the Census Bureau, let’s look at the following charts (from Ron Griess of The Chart Store). These show the real economy — private sector hiring without the government stimulus.

Note the annual changes (middle chart, Private Payroll). It is approaching 6 million job losses per year. This is uncharted territory, an annual rate of change unprecedented for as long as the data has been tracked, going back to 1939:


Total Changes in Private Payrolls



Monthly Changes Private Payrolls


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